Do you have one or more pets? Are you concerned about what would happen to them upon your death? Are you wondering if a pet trust is the answer to all your questions and concerns?
You can’t decide for or against a pet trust until you first understand the benefits. Here’s what you need to keep in mind:
- You can outline care instructions: Use a pet trust to outline the type of care you want your pet to receive. This can include everything from its medical care to the type of food it should eat. In other words, you can guarantee that your pet receives the same treatment even after you’re gone.
- It’s immediate: With a will, the probate process is required. So, you’ll always have concerns about what will happen to your pet during this time. A pet trust, on the other hand, is immediate. It kicks in upon your passing, which allows the designated individual to step in and provide care.
- It works in the event of incapacity, too: There’s more to a pet trust than the benefits upon your passing. It can also help if you’re incapacitated. During this time, the individual outlined in your trust to care for your pet will have the power to do so.
While these are among the top benefits of a pet trust, there are many others that you’ll come across as you learn more. It may not be something you’ve thought about in the past — especially if you just took in your pet — but it could be a nice addition to your estate plan in the future.
If you have any questions about creating a pet trust or pet planning in general, contact our law firm for professional guidance. We’ll make sure you have a plan in place to protect your pet long after you’re gone.
- An Irrevocable Trust Need Not Be Scary - May 30, 2023
- Don’t Procrastinate: Five Reasons To Plan Your Estate Now - May 25, 2023
- Estate Planning for Parents With Children in College - May 24, 2023